About Chartology

With "Chartology", you'll be sitting in the front row as I discuss price action analysis, market cycles, chart pattern setups, optimal trading time and volatility analysis, as well as the psychology behind price action. Put these tools together and you're looking at how to begin mastering the charts. In fact, be sure to watch the "Your Forex Questions Answered" video here.

Every day, occasionally more often, I'll additionally discuss order entry, U.S. Dollar Index, crude oil, gold, and the Dow. Forex trading allows and requires a viewpoint that goes beyond simply analyzing the pairs. I'll explain in detail how I scan for trades — I call it "triage" — how I set up trades proactively, and how I manage entries and risk. Trading isn't all that diffcult but the process of finding your tools and approach and trusting them is. So here's your front row in my trading office, thanks for reading, let's get going!

Who is Queen Cleopiptra?

Raghee Horner is a private trader, founder of EZ2Trade Software, entrepreneur, and author. She has been trading forex, as well as futures and stocks for almost twenty years. She is a regular contributor at a number of sites including FXStreet, Trading Markets, Autochartist, eSignal and a featured speaker at the Forex and Traders Expos. Her commentary and analysis is seen daily by thousands of traders at her personal blog ragheehorner.com. She has written articles for Technical Analysis of Stocks and Commodities, Currency Trader, Your Trading Edge, and Traders Journal magazine.

NZD/USD Rising Wedge Continuation

For traders who read my May 18 update on why I’m bullish on the NZD/USD, here’s an alternative, intraday set up to take advantage of a rally.

The NZD/USD is trending higher but the transition is fresh.The Rising Wedge is shallow but could provide 1) near-term support for a push higher or 2) a near-term rally through the uptrend line resistance. Either way this pattern is positioned perfectly to be a litmus test for the 240-minute NZD/USD uptrend. Chart pattern alert courtesy of Autochartist.

The resistance along the 0.8000 level will present a particular challenge to NZD/USD bulls however a break through a “00” can attract more buying momentum and that’s partially what will be needed. What else? Add to that a U.S. Dollar breakdown through 76.00 and higher commodities prices through either an equities rally or dollar weakness and the NZD/USD will propel higher continuing what has mostly been a two-month rally before the recent mid-May consolidation.

The support of the pattern has three levels to rest on: The support of the 34EMA Wave and the uptrend line support at 0.7900 and the”00″ major psychological level itself.